Assistant Manager - Banking Book Market Risk

Location: City of Edinburgh

** End Date
** Friday 23 January 2026
** Salary Range**£55,755 - £61,950
** Flexible Working Options
** Hybrid Working, Job Share
** Job Description Summary**.
** Job Description
***
* JOB TITLE:

** Assistant Manager - Banking Book Market Risk
** SALARY:** £55,755 - £61,950
** LOCATION(S):
** Edinburgh
*
* HOURS:

** Full Time
** WORKING PATTERN:
** Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites
** About this opportunity
** We have an exciting opportunity for an Assistant Manager to join the Asset & Liability Management (ALM) Risk team within Liquidity, ALM and Pensions Risk.

This role offers exposure to a dynamic environment and great opportunities for personal growth.
Our team provides robust, informed oversight of market risks in the Group’s banking book, operating at Group level across key legal entities including the Ring-Fenced Bank and Lloyds Bank Corporate Markets (LBCM). To do this role well, you'll excel at critical thinking and problem solving. You'll also enjoy challenging received wisdom and be able to think creatively about risks that others may have missed.

You'll be keen to work as a member of a small, specialist team.

This role involves leading on some activities and supporting the wider team on others, gaining exposure to Group Corporate Treasury and the business.

Key responsibilities include:

* Risk Oversight:
Review and challenge monthly risk metrics (NII/MV/EVE), regulatory reporting, ALM models and assumptions.
* Governance & Policy:
Annual review and attestation of Market Risk Policy & Procedures; review of annual disclosures and ICAAP submission.
* Engagement & Development:
Attend Divisional ALCOs; contribute to market risk framework improvements; actively maintain a high level of sector knowledge through both internal contacts and external sources; undertake ad-hoc projects and build effective relationships with key partners, providing expert guidance on market risk issues.
* Broader exposure:
Participate in broader team-wide initiatives across Liquidity and Pensions Risk.
** Why Lloyds Banking Group
** If you think all banks are the same, you’d be wrong. We’re an innovative, fast-changing business that’s shaping finance as a force for good. A bank that’s empowering its people to innovate, explore possibilities and grow with purpose.
** What you’ll need
*** Experience in banking book market risk / asset and liability management risk.
* You’ll be a self-starter who embraces new challenges and manages your own time and learning effectively.
* Strong written and verbal communication skills, as well as an ability to build relationships across teams.
* You’ll enjoy problem solving, logical thinking and using your initiative across a wide variety of work.
* Have an interest in current affairs both in the UK and globally.
* Confident asking difficult questions, challenging constructively and have experience of presenting to and influencing senior stakeholders.
* Comfortable making and rationalising decisions
* Experience with data visualisation tools such as Power BI or Tableau is desirable.

You’ll also have a willingness to develop knowledge across areas such as:
* Retail Banking products
* Derivatives used to manage and hedge market risk
* Risk metrics, their calculation and usage (NII/MV/EVE)
* Economics, and the practical application across financial markets Regulations, their application, and impact on the banking industry
** About working for us
** Our ambition is to be the leading UK business for diversity, equity and inclusion supporting our customers, colleagues and communities, and we’re committed to creating an environment in which everyone can thrive, learn and develop.

We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer Initiative.

We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria…